Tractor Insurance

[WinterDeere]

It would be a feat to get it out of a locked barn with no keys... At my house. But possible.

And if they manage all that, a target sitting atop a vehicle with a maximum speed of 18 mph is a pretty easy shot.

 

[steve tym]

My insurance guy said I'm covered under existing homeowners, unless I put a license plate on it.

 

[kthompson]

I am a licensed agent. Have not actively been selling property insurance for last few years. Do not depend on what others are telling you here, not they are not correct on their situation, but the laws and plans will from state to state. Last, I know State Farm will not insure anything related to a farm in my state. But have no reason to ask them in several years. Farm Bureau here is the best. You need to ask about all aspects of the coverage, not just how much the tractor is covered for. Ask what it is not covered for? Ask if I get in wreck on the road how is it covered? (been there on that one) If it is damaged say by a falling tree, a wreck, fire, your rolling it down a hill, is it covered in all such situations? How About you damage it using it, such as twist a front-end loader? Don't miss what or how they determine the value of the tractor for repairs or replacement.

Here, most companies don't want to insure a home on I think it is 5 acres of land but may be 10.

If you use a rough cut mower near others house or roads be sure how you are covered. They can do major damage when they hit something.

 

[OzarkChris]

I've got AR Farm Bureau covering house, autos, tractors, mini-x, side by sides and each and every implement I own, everything has replacement value policies and tractors have a rider attached that is a (almost) anything, anywhere coverage - obviously doesn't cover things like me setting the tractor on fire on purpose. The farm side insurance, I feel, was very reasonable (~$1k/year for everything) and the deductible at under 2% of replacement cost (I think it is about $950 for replacement on $60k tractor) and $0 for glass breakage. I pay my insurance at the yearly rate every May and prices have only gone up $15-20 total over the past 10ish years - I've only had one claim (glass on cab tractor, 3 large pieces), no questions, just get it fixed and they took care of it. For me, and for what I was quoted for the glass prior to getting the insurance company involved, these policies really haven't costed me much - if anything - when I subtract the cost of the glass they replaced. Of course I really doubt that Farm Bureau paid as much as I would have for that glass, but I surely couldn't have gotten that same deal either.

 

[DanBick]

I use KY Farm Bureau on a farm policy, quite reasonable. The tractors are only a few bucks a month each. They are covered both at farm and home 30 miles away and while being transported.

 

[Jimmyob]

I bought my LX3310 2 years ago, total newbie. Very hilly, rocky acreage and no experience. Homeowners wouldn't cover it but sent me to a subsidiary. It was around $550 a year for the policy.
Went to KTAC, insurance from Kubota and got coverage for around $450 a year. Thought I'd cover it for a year or 2 to till I got more experience. Covers everything but mechanical issues. Smash it, roll it over, twisted loader arms, fire, theft, etc., fully covered. Repair or replace. Crazy things happen, I read about them all the time. Think I'll keep it for another year. Also, I bought the insurance after the 30 or 60 day period from purchase was expired. Too far from a dealer to inspect so they let me send in pics of the serial numbers and a short video to show its condition. That was decent of them and the insurance eases my mind.
Good luck with whatever you go with.

 

[tradosaurus]

Hey, so with people lighting their tractors on fire this summer, it crossed my mind to see if I was insured.

Homeowners covers up to $16,700 per SINGLE item.(personal property) Tractor is worth $35k.

Ok, so I'm going to explore tractor insurance. It stays in a locked barn on my personal property. Who do y'all insure with? What are typical rates?

If I'm spending thousands per year, I'll save it to cover what my current insurance doesn't on the off chance it bursts into flames.

Ideas??

Instead of getting just tractor insurance find a homeowners insurance that will cover replacement value. Of course you would have to insure your auto's also to get the best rate.

I have Texas Farm Bureau and they cover replacement value of my tractor, side by side, and implements.
Two cases in the past 5 years:
1) My daughters ran my brand new side by side into a tree at low speed and it needed a frame replacement. $250 deductible and $8k to replace frame.
2) A small cat camped near the radiator fan on my F250 diesel. The fan blade, radiator and a few other parts needed replacement after I remote started the truck. $3k bill and $250 deductible. Homeowners covered it. Not the auto insurance

 

[CloverKnollFarms]

I could just follow the thief with my hazards on so they don’t get rear ended

 

[Sid Post]

I could just follow the thief with my hazards on so they don’t get rear ended

From personal experience, they steal the trailer first, then load the tractor, and off to Mexico they go!

 

[kohog]

Got full coverage insurance from Kubota through the dealer rolled into my monthly payments to Kubota America. At the time it was the lowest premium for best benefit.

 

[Gregor J]

I'm a licensed independent agent that also spent 7 years with State Farm. There is a lot of good information here, but I'd like to "second" kthompson. Do your due diligence. "I'm covered" makes me nervous just hearing it. Most home policies cover personal property (the tractor) differently than the home. It's what they call stated perils. I can tell you with certainty in MI State Farm will NOT pay to fix your tractor if you roll it over under your home policy. They sell a PAP, Personal Articles Policy, some call it an inland marine policy, like Auto Owners. I currently use Auto Owners at a reasonable rate...$170 for $33k. You can often "schedule" tractors on your home policy, again Auto Owners calls it inland marine coverage for a better rate yet. Be sure how claims are settled, ACV - Actual Cash Value (Most are), or Agreed Value. Agreed value shouldn't be confused with Stated Value.
The minute you try to make money with it, everything changes... if it wasn't confusing enough already.

 

[Sid Post]

Got full coverage insurance from Kubota through the dealer rolled into my monthly payments to Kubota America. At the time it was the lowest premium for best benefit.

Did that with my Massey 5711D

 

[ljjhouser]

I stayed with KTAC (Kubota Insurance). This is the second year with it. Both years cost $451 a year. My L4701 is now 6 years old.

 

[Williy]

State farm is an insurance that I would treat like the plague!
I have heard this story too many times: When I went to renew
my policy was told I an not insured with them, I was canceled a
few months ago the worst part is the people were driving without
insurance and didn't even know this fact! Good thing no wrecks!

willy

 

[Green Acres Homestead]

Hey, so with people lighting their tractors on fire this summer, it crossed my mind to see if I was insured.

Homeowners covers up to $16,700 per SINGLE item.(personal property) Tractor is worth $35k.

Ok, so I'm going to explore tractor insurance. It stays in a locked barn on my personal property. Who do y'all insure with? What are typical rates?

If I'm spending thousands per year, I'll save it to cover what my current insurance doesn't on the off chance it bursts into flames.

Ideas??View attachment 810794

Insurance can be a bunch of pri…..s. Paid for commercial insurance for years and somebody stole my wood splitter.

Insurance send an investigator and then they sent a note to me that my claim has been refused implying I stole my own wood splitter. Fraud. I replied with an email telling them what a bunch of pricks they are and called them everything I could think off. I also told them that I would spread the word about there service. I also said cancel my insurance because I’ll get my money for my wood splitter back in the premeiums that I won’t be paying them. I also had a few choice words to the investigator they sent and I cc the message to him as well.

Two weeks later I received a check for the splitter then a week later a new quote for insurance which was half what I was paying. I held true to my word and told them to shove it up their ass.

My equipment is 10 years old so not worth the hassle dealing with insurance. I erected a sign for the theif that I have my compound bow ready and it’s going to hurt. I spoke to the guy that I know that took my splitter and he is scared to death.

The reason the insurance, big companies, theifs and government is pulling crap off is because we let them and take way to easy a stand. By nature I am soft and easy to but I am sick of bs and these hard times calls for more harden response with the willingness to act harshly. I did it for the team and if everybody did that they would think twice before pulling off their bull s….

Not all insurance companies, or government are bad but they have to be put in their place and the theives deterred.

Good luck everybody. We know hard times are coming and the way through it is the good people stick together and help each other. Even on forums such as TBN where people talk about the good and bad and being informative is a big help. Good luck to everyone through these hard times and may god bless.

 

[JerryBuilt]

I had Travelers insurance for years, homeowners and umbrella policies. Never made a claim. When the latest bill for renewal came the bill was nearly twice what the year before bill was. I was shocked. Nothing had changed in my life except that I was one year older. So I shopped around and was able to find insurance for just a little bit less than my last yearly bill. So it pays to shop around. I think I shoulda shopped around a little bit earlier than I did. I did ask about the reason for the big increase. Nobody could or would tell me. Nor would they negotiate on prices.

I had Travelers "Insurance" A 2 vehicle metal carport with full sides was ripped out of the ground after a March wind and beat to shreds against 2 trees into a heap. They classified it as "other structure" which allows them to deduct 1% of insured house value, then they depreciated the pristine structure (I sent a recent pic of building and the damage), quickly sent a $3000 check, closed the claim, w/o even a visit and or discussion. They admitted it was worth $8000. It took 3 calls to corporate to get the local manager to even return my numerous calls and emails. They would not even pay for clean up or disposal. Website suggests equity and diversity.... woke-ness. I changed to State Farm and have way more coverage and 25% lower premiums. Read your policy and update your values on a regular basis.

 

[YLee Kioti]

I use Texas Farm Bureau for trailers, tractors, and implements. Everything is itemized for purchase price value. Now that I look at the list, I missed a few things. I also belong to the Texas and Southwestern Cattle Raisers Assoc. for added theft protection, even though we don't have cattle. They employ 30 Texas Rangers to work theft cases involving member's livestock and equipment. Thieves tend to steer clear of property with the TSCRA blue sign hanging out front, knowing the Texas Rangers will be after them. Cheap protection at $150 a year.

TY for the info. We live on edge of town and society breakdown has not yet reached our lil 5k population farming community.
Nonetheless, tractor and towing vehicle sit under carport.
Will look into this and speak with our texas farm bureau agent.
Have lot of gravel work to do but we've been triple digits for weeks down here.
So will plan my work early and quit by noon.
Had not considered fire as an issue!
So very timely !